Webjet has tapped the bond market for $250 million with assistance from Goldman Sachs.
The move to secure funds come as part of the company’s efforts to search for financial support amid the global pandemic that has virtually halted global travel.
Last year in the grip of the pandemic, Webjet raised $332m of equity at $1.70 per share.
The convertible bond will have a 0.5 to 1 per cent coupon and a 20 to 25 per cent premium range.
Included is a delta placement of about $100m to $120m.
The funds will replace a €100 million bond.
Webjet currently has a $1.85bn market value.
Its share price dived a year ago during the onset of the pandemic to less than $5 from more than $10.
They have since staged somewhat of a recovery, last trading at $5.58.
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